Dec 29, 2012 12:00pm PST
and there will also be spending cuts to government programs as well as the military and that will be spread over with 2013 and the world doesn't come to an end if we go over this quote, unquote, fiscal cliff and instead, a lot of the damage gets spread out and congress does have the power to go back and fix things. >> is it more important that the payroll tax holiday will go away and that is another thing that will end up happening. >> the payroll tax holiday will be a temporary sting, and it was crafted in 2010 and that is right in the waning days of the 111th congress when they still held in control the house of representatives and all of the counter proposals and counter proposals, and house speaker john boehner and the offers we have on the table don't deal with the payroll tax holiday and they go up to people on the amount of money they put in the social security trust fund and that is your payroll tax and those will go up and pretty much regardless if we get a deal or we don't. >> mark murray from d.c., breaking it down for us and the senior editor, thank you, sir. >> as lawmakers in d.c.
Dec 29, 2012 11:00am PST
it in their paycheck and they will after january 1. the government will be taking more out of their paychecks and when the tax time will roll by in april, they'll feel it and businesses will feel it. once people will see they're losing money on this deal you'll see more public outrage about it. >> david naka, mura, calling for an up or down vote if the senate can't come up with it. he's talking about 250,000, at one point 400,000. is it realistic to think that the president can win this thing on an up or down vote? >> if they actually go to an up and down vote there will be a lot of pressure on those who were against a temporary fix with this to make their case known and actually go on the record. that's why the question is would the republican senators who would oppose this thing at the $250,000 level, they would use some of the mechanisms they have like the fill buster and things that the public doesn't like, but they're certainly part of the tools that the senators have to object to these things. would they block it? as mark murray said, this is about the blame game and setting up and if you'll blo